Masdar City and Mashreq Bank sign an agreement for financial services to SMEs

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“Masdar City is currently home to over 1,000 businesses, including a wide range of innovation-driven SMEs and start-ups. The city is Abu Dhabi’s only planned and approved R&D hub, and for businesses we offer a unique ecosystem of education, R&D and innovation, which not only enables them to grow and thrive, but supports also Abu Dhabi’s position as a world leader. destination,” said Abdulla Balalaa, Executive Director of Masdar City.

Through this partnership, businesses based in Masdar City will have new opportunities to adapt and grow rapidly, said Vikas Thapar, Executive Vice President, Head of Corporate Banking and NeoBiz, Mashreq Bank.

“Our agreement with Masdar City will allow us to increase customer acquisition while raising awareness of our digital platforms. At Mashreq, we have always channeled our efforts towards customers and digitalization.”

Through its free zone, Masdar City already offers quick and easy access to a range of vital business services and benefits, including registration, government relations, visa processing, 100% foreign ownership, rights of 0% import, dual licensing, fast set-up process, reduced tax footprint, highly cost-effective licensing and office space, business-friendly environment, access to R&D partnerships and freedom repatriation of capital and profits.

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